EVERSOURCE ENERGY

10-K & 10-Q Filings

Eversource Energy is a public utility holding company headquartered in Boston, Massachusetts and Hartford, Connecticut. The company is engaged primarily in the energy delivery business through its subsidiaries: The Connecticut Light and Power Company (CL&P), NSTAR Electric Company (NSTAR Electric), and Public Service Company of New Hampshire (PSNH). These subsidiaries provide electric and natural gas utility services to customers in Connecticut, Massachusetts, and New Hampshire. Eversource Energy also has an offshore wind business. The electric distribution segment of Eversource Energy consists of the distribution businesses of CL&P, NSTAR Electric, and PSNH, which distribute electricity to residential, commercial, and industrial customers in their respective service territories. CL&P serves approximately 1.28 million customers in Connecticut, NSTAR Electric serves approximately 1.49 million customers in eastern and western Massachusetts, and PSNH serves approximately 539,000 customers in New Hampshire. Eversource Energy's website is www.eversource.com and its ticker symbol is ES on the New York Stock Exchange. The company's business strategy is to provide safe and reliable energy delivery services to its customers, and it does this through a regulated business model where it is subject to regulation by various state and federal regulatory bodies. Eversource Energy's business segments include electric distribution, electric transmission, natural gas distribution, and water distribution. The electric distribution segment represents substantially all of Eversource's total consolidated revenues. Eversource Energy's electric distribution segment in Connecticut is served by CL&P, which does not own any electric generation facilities and purchases energy supply to serve its customers from a variety of competitive sources. In Massachusetts, NSTAR Electric owns and operates 70 MW of solar power facilities and sells energy from these facilities into the ISO-NE market. In New Hampshire, PSNH also does not own any electric generation facilities and purchases energy supply to serve its customers from competitive sources. Eversource Energy's offshore wind business includes 50% ownership interests in three offshore wind projects and a tax equity investment in one of the projects. For more information, see the "Offshore Wind Business" section in the accompanying Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$4465.66
6273.79
7301.20
7741.86
7954.83
7639.10
7752.00
8448.20
8526.47
8904.43
9863.08
12289.34
11910.70
3795.64
3332.57
8.52%-12.20%Cost of Revenue (-)
$-0.00
2084.36
2482.95
3021.55
3086.91
2500.83
2535.27
-0.00
Gross Profit (+)
$2613.20
4189.42
4818.25
4720.31
4867.92
5138.27
5216.73
Selling, General & Administrative (-)
$323.61
434.21
512.23
561.38
590.57
634.07
676.76
729.75
711.03
752.78
829.99
910.59
940.36
228.41
236.61
9.30%3.59%Depreciation & Amortization (-)
$469.22
740.79
859.68
625.36
688.19
787.16
863.79
819.93
885.28
981.38
1103.01
1643.14
1305.84
236.90
339.91
8.90%43.49%Operating Expenses (-)
$3671.48
5155.58
5771.77
6109.01
6190.66
5779.27
5833.80
6748.27
6935.98
6915.70
7869.76
10091.18
9511.37
3046.07
2486.60
8.26%-18.37%Costs & Expenses (Total) (-)
$3671.48
7239.94
8254.72
9130.56
9277.57
8280.10
8369.07
6748.27
6935.98
6915.70
7869.76
10091.18
9511.37
3046.07
2486.60
8.26%-18.37%Operating Income/Loss (+)
$794.18
1118.21
1529.43
1632.85
1764.16
1859.90
1918.15
1699.90
1590.49
1988.73
1993.32
2198.15
2399.34
749.57
845.97
9.65%12.86%Non-operating Income/Expense (+)
$27.71
19.74
29.89
24.62
964.31
45.92
78.01
128.40
132.78
108.59
161.28
346.09
-1818.93
88.98
91.03
2.30%Interest Expense (-)
$250.43
329.94
338.70
362.11
372.42
400.96
421.75
498.81
533.20
538.45
582.33
678.27
855.44
194.54
250.75
10.78%28.89%Earnings before Tax (+)
$571.47
808.00
1220.63
1295.36
2356.06
1504.86
1574.41
1329.50
1190.07
1558.87
1572.27
1865.97
-275.04
644.01
686.25
6.56%Tax Expense (-)
$170.95
274.93
426.94
468.30
539.97
555.00
578.90
288.97
273.50
346.19
344.22
453.57
159.68
150.97
162.53
-0.57%7.65%Income/Loss (Continuing Operations) (+)
$400.51
533.08
793.69
827.06
1816.09
949.86
995.51
1040.52
916.57
1212.69
1228.05
1412.39
-434.72
493.04
523.73
6.22%Profit/Loss (+)
$
1412.39
-434.72
493.04
523.73
6.22%Net Income/Loss (NCI) (-)
$5.82
7.13
7.68
7.52
7.52
7.50
7.52
7.50
7.52
7.52
7.52
7.52
7.52
1.88
1.88
2.16%0.00%Net Income/Loss (+)
$400.51
533.08
793.69
827.07
886.00
949.82
995.50
1040.50
916.57
1212.69
1228.05
1404.88
-442.24
491.16
521.85
6.25%Net Income/Loss (Common) (+)
$394.69
525.95
786.01
819.55
878.49
942.30
988.00
1033.00
909.05
1205.17
1220.53
1404.88
-442.24
491.16
521.85
6.25%EPS (Basic)
$2.22
1.90
2.49
2.59
2.77
2.97
3.11
3.25
2.83
3.56
3.55
4.05
-1.27
1.41
1.49
5.67%EPS (Diluted)
$2.22
1.89
2.49
2.58
2.76
2.96
3.11
3.25
2.81
3.55
3.54
4.05
-1.26
1.41
1.49
5.67%Weighted Avg Shares (Basic)
177.41
277.21
315.31
316.14
317.34
317.65
317.41
317.37
321.42
338.84
343.97
346.78
349.58
349.22
350.72
5.82%0.43%Weighted Avg Shares (Diluted)
177.80
277.99
316.21
317.42
318.43
318.45
318.03
317.99
322.94
339.85
344.63
347.25
349.84
349.61
351.00
5.80%0.40%Cash
$6.56
45.75
43.36
38.70
23.95
30.25
38.16
108.07
15.43
106.60
66.77
374.60
53.87
35.98
259.21
19.18%620.54%Short-term Investments
$70.97
91.97
26.63
28.66
Receivables
$488.00
792.82
765.39
856.35
775.48
847.30
925.08
994.05
989.38
1195.92
1226.07
1517.14
1431.53
1660.08
1593.49
9.38%-4.01%Inventory
$64.44
64.60
98.84
120.84
118.61
122.96
143.95
158.73
235.47
265.60
267.55
374.39
507.31
423.34
555.21
18.76%31.15%Prepaid Expenses (Current)
$
26.26
Other Assets (Current)
$727.51
1232.15
1152.82
1647.92
1700.75
1477.16
1379.90
1031.37
1174.25
1535.76
1709.73
1957.06
2255.28
2017.03
2472.95
9.89%22.60%Assets (Current)
$1357.47
2227.30
2087.05
2692.47
2618.79
2477.67
2487.10
2292.22
2414.54
3130.14
3270.12
4223.20
4247.99
4136.43
4880.86
9.97%18.00%Securities & Long-term Investments
$60.31
400.33
488.51
515.02
9431.66
544.64
585.42
417.51
1320.76
1563.76
1896.64
2542.59
998.29
2634.93
1075.99
26.35%-59.16%Property, Plant & Equipment (Net)
$10403.07
16605.01
17576.19
18647.04
19892.44
21350.51
23617.50
25610.40
27585.47
30882.52
33377.65
36112.82
39498.61
36744.86
40289.38
11.76%9.65%Goodwill & Intangibles
$287.59
3519.40
3519.40
3519.40
3519.40
3500.00
4400.00
4427.27
4427.27
4445.99
4477.27
4522.63
4532.10
4522.63
4532.14
25.83%0.21%Other Assets
$3538.63
5550.79
4124.39
4404.04
4305.06
4256.03
5230.04
5626.64
5541.94
6281.32
5470.47
5829.66
6335.26
6066.32
6543.86
4.97%7.87%Assets (Non-current)
$14289.59
26075.53
25708.49
27085.51
27961.52
29575.53
33733.30
35949.03
38709.38
42969.46
45222.02
49007.70
51364.25
49968.74
52441.37
11.25%4.95%Assets (Total)
$15647.07
28302.82
27795.54
29777.97
30580.31
32053.20
36220.40
38241.26
41123.92
46099.60
48492.14
53230.90
55612.25
54105.17
57322.22
11.15%5.95%Accounts Payable
$772.07
854.53
786.96
875.76
813.65
884.52
1235.03
1119.99
1167.01
1390.32
1672.23
2113.91
1869.19
1821.91
1663.66
7.65%-8.69%Debt (Current)
$648.58
1883.53
1626.35
245.58
228.88
773.88
549.63
837.32
327.41
1053.19
1193.10
1320.13
824.85
1615.46
865.37
2.02%-46.43%Other Liabilities (Current)
$527.03
905.62
862.34
2013.04
1947.26
1980.20
1804.38
2155.57
2111.14
2471.51
2981.71
3365.25
3647.36
2967.67
3838.55
17.49%29.35%Liabilities (Current)
$1947.68
3643.69
3275.65
3134.38
2989.79
3638.61
3589.05
4112.88
3605.56
4915.01
5847.04
6799.28
6341.40
6405.04
6367.59
10.34%-0.58%Debt (Non-current)
$4727.17
7282.30
7776.83
8606.02
8805.57
8829.35
11775.89
12248.74
13770.83
15125.88
17023.58
19723.99
23588.62
20562.59
24929.81
14.33%21.24%Other Liabilities
$4982.01
8054.44
7040.13
7905.19
8277.16
8717.91
9613.64
10158.75
11110.33
11896.23
11021.68
11234.47
10985.49
11388.17
10979.99
6.81%-3.58%Liabilities (Non-current)
$9709.18
15422.08
6975.96
7905.19
8277.16
17547.27
21389.53
22407.49
24881.16
27022.10
28045.26
30958.46
34574.11
31950.76
35909.81
11.16%12.39%Liabilities (Total)
$11656.87
19065.77
19093.23
20500.71
21203.57
21341.44
25134.14
26520.37
28486.72
31937.11
33892.30
37757.74
40915.50
38355.80
42277.39
11.03%10.22%Treasury Stock
$-346.67
-338.62
-326.54
-300.47
-309.98
317.77
317.77
317.77
299.06
277.98
250.88
216.22
195.68
209.40
185.45
-11.44%Retained Earnings
$1651.88
1802.71
2125.98
2448.66
2797.36
3175.17
3561.08
3953.97
4177.05
4613.20
5005.39
5527.15
4142.52
5782.96
4413.59
7.96%-23.68%AOCI
$70.69
72.85
46.03
-74.01
-66.84
-65.28
-66.40
-60.00
-65.06
-76.41
-42.27
-39.42
-33.74
-36.19
-28.53
21.16%Shareholder's Equity
$4015.63
9237.05
19968.19
20554.56
21324.38
10711.73
11086.24
11486.82
12629.99
14063.57
14599.84
15473.16
14173.89
15749.37
14543.59
11.08%-7.66%Liabilities & Equity
$15647.07
28302.82
27795.54
29777.97
30580.31
32053.17
36220.39
38241.26
41123.92
46099.60
48492.14
53230.90
55612.25
54105.17
57322.22
11.15%5.95%Net Income/Loss
$400.51
533.08
793.69
827.07
886.00
949.82
995.50
1040.50
916.57
1212.69
1228.05
1412.39
-434.72
493.04
523.73
6.22%Depreciation & Amortization
$469.22
740.79
859.68
625.36
688.19
787.16
863.79
819.93
1098.37
1175.84
1103.01
1194.25
1305.84
312.95
339.91
8.90%8.61%Increase/Decrease in Working Capital
$72.53
-1014.17
530.49
422.79
34.41
203.84
-114.18
394.37
210.73
780.36
585.83
403.90
593.42
682.13
609.16
19.14%-10.70%Share-based Compensation
$-58.10
-101.49
-228.49
-232.90
-76.32
-118.83
Adjustments to Reconcile Net Income
$569.87
628.15
869.85
808.41
538.02
1225.23
1009.43
743.48
1093.01
469.89
734.55
988.90
2080.88
-423.88
-232.42
11.40%45.17%Net Cash (Operating)
$970.39
1161.23
1663.54
1635.47
1424.03
2175.05
2004.93
1783.98
2009.58
1682.57
1962.60
2401.29
1646.16
69.16
291.31
4.50%321.23%Capital Expenditure
$1029.89
1472.27
1456.79
1603.74
1724.14
1967.82
3225.75
2324.69
3327.83
4185.39
3502.47
4184.35
4926.66
1064.99
1456.88
13.93%36.80%Net Cash (Investing)
$-1018.59
-1467.92
-1441.22
-1591.80
-1659.15
-2150.81
-3210.47
-2390.48
-3274.29
-4129.27
-3447.37
-4130.49
-4870.73
-1051.55
-1446.85
-37.59%Increase/Decrease in Debt
$238.60
721.43
270.98
433.52
766.18
587.55
1827.81
770.36
1074.59
2446.72
2343.63
2791.83
3885.43
903.30
1566.12
26.18%73.38%Increase/Decrease in Equity
$
852.25
928.99
197.06
75.39
Dividends Paid
$200.11
382.08
470.42
482.75
537.31
572.00
609.60
1177.63
670.76
752.18
812.96
867.55
926.51
231.28
246.67
13.62%6.65%Net Cash (Financing)
$31.36
345.88
-224.70
-48.34
220.37
-419.54
1213.45
729.94
1172.45
2594.59
1440.83
2029.94
2869.24
623.41
1349.52
45.69%116.47%Increase/Decrease in Cash
$-16.84
39.19
-2.38
-4.66
-14.76
6.30
7.91
123.43
-92.26
147.89
-43.94
300.74
-355.33
-358.99
193.98
154.04%Cash (Beginning)
$
85.89
209.32
117.06
264.95
221.01
521.75
521.75
166.42
-68.10%Cash (Ending)
$
209.32
117.06
264.95
221.01
521.75
166.42
162.77
360.40
121.42%NOPAT
$556.60
737.73
994.48
1042.54
1359.85
1173.96
1212.86
1330.42
1224.97
1547.09
1556.92
1663.83
1006.30
573.85
645.62
5.06%12.51%Gross Margin %
58.52%
66.78%
65.99%
60.97%
61.19%
67.26%
67.30%
Operating Margin %
17.78%
17.82%
20.95%
21.09%
22.18%
24.35%
24.74%
20.12%
18.65%
22.33%
20.21%
17.89%
20.14%
19.75%
25.38%
NOPAT Margin %
12.46%
11.76%
13.62%
13.47%
17.09%
15.37%
15.65%
15.75%
14.37%
17.37%
15.79%
13.54%
8.45%
15.12%
19.37%
Net Margin %
8.97%
8.50%
10.87%
10.68%
11.14%
12.43%
12.84%
12.32%
10.75%
13.62%
12.45%
11.43%
-3.71%
12.94%
15.66%
Tax Rate %
29.91%
34.03%
34.98%
36.15%
22.92%
36.88%
36.77%
21.74%
22.98%
22.21%
21.89%
24.31%
58.06%
23.44%
23.68%
ROA
3.56%
2.61%
3.58%
3.50%
4.45%
3.66%
3.35%
3.48%
2.98%
3.36%
3.21%
3.13%
1.81%
1.06%
1.13%
ROE
13.86%
7.99%
4.98%
5.07%
6.38%
10.96%
10.94%
11.58%
9.70%
11.00%
10.66%
10.75%
7.10%
3.64%
4.44%
ROIC
5.45%
3.74%
4.78%
4.89%
6.03%
4.90%
4.49%
4.57%
3.95%
4.51%
4.29%
4.25%
2.38%
1.43%
1.48%
Asset Turnover
0.29
0.22
0.26
0.26
0.26
0.24
0.21
0.22
0.21
0.19
0.20
0.23
0.21
0.07
0.06
Inventory Turnover
-0.00
32.26
25.12
25.00
26.03
20.34
17.61
-0.00
Equity Multiplier
3.90
3.06
1.39
1.45
1.43
2.99
3.27
3.33
3.26
3.28
3.32
3.44
3.92
3.44
3.94
Current Ratio
0.70
0.61
0.64
0.86
0.88
0.68
0.69
0.56
0.67
0.64
0.56
0.62
0.67
0.65
0.77
Quick Ratio
0.29
0.26
0.26
0.29
0.27
0.24
0.27
0.27
0.28
0.27
0.22
0.28
0.23
0.26
0.29
Debt/Equity Ratio
1.34
0.99
0.47
0.43
0.42
0.90
1.11
1.14
1.12
1.15
1.25
1.36
1.72
1.41
1.77
Working Capital/Sales
-0.11
-0.06
-0.04
-0.11
-0.11
-0.11
-0.13
-0.11
-0.12
-0.12
-0.16
-0.12
-0.14
-0.31
-0.35
Dividend Payout Ratio %
35.95%
51.79%
47.30%
46.30%
39.51%
48.72%
50.26%
88.52%
54.76%
48.62%
52.22%
52.14%
92.07%
40.30%
38.21%
Total Payout
$-38.49
-339.36
199.45
49.22
-228.87
-15.54
-1218.21
407.27
-1256.09
-2623.53
-1530.67
-2121.34
-2958.91
-672.01
-1394.85
-107.56%Payout Ratio %
-6.91%
-46.00%
20.06%
4.72%
-16.83%
-1.32%
-100.44%
30.61%
-102.54%
-169.58%
-98.31%
-127.50%
-294.04%
-117.11%
-216.05%